Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Pacifica against Hyperliquid−0.084%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.084%, 7d avg −0.023%

Together, before fees+0.234%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.062% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1893	0.0100	pay 0.0013% / 1h	10m 41s	$14.1M	$7.4M	10x
Short	Pacifica TRUMP	2.1875	0.0100	get 0.0013% / 1h	10m 41s	$188K	$60K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee PacificabpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.023%: −$6.15
Slippage, 4 orders: −$24.19
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$47.34
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; Pacifica: live order book, 12 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 2 min ago	0.69 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 12 min ago	7.08 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERP	−0.1787%	1h	2.1730	−0.745%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1854	−0.178%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0130%	1h	2.1878	−0.068%	$1.3M	$2.3M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0116%	1h	2.1860	−0.151%	$410K	$79K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1868	−0.112%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1860	−0.153%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1873	−0.093%	$119K	$248K	20x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1861	−0.146%	$973K	$662K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0081%	8h	2.1866	−0.125%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1850	−0.196%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMPlong	+0.0100%	1h	2.1893	long leg	$14.1M	$7.4M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1872	−0.094%	$458K	$831K	20x	as long as short
Pacifica TRUMPshort	+0.0100%	1h	2.1875	−0.084%	$188K	$60K	10x
Binance TRUMPUSDT	+0.0100%	4h	2.1870	−0.105%	$62.3M	$215.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1870	−0.105%	$30.6M	$42.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1870	−0.105%	$26.7M	$147.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	−0.105%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	−0.151%	$480K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	−0.059%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	−0.059%	$15.5M	$20.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1864	−0.132%	$682K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1843	−0.227%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	−0.151%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1855	−0.174%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	−0.059%	$515K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1857	−0.163%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1845	−0.219%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0171%	1h	2.1879	−0.064%	$259K	$264K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1861	−0.145%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1860	−0.151%	$281K	$399K	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.196%	$4.2M	$503K	75x	as long as short